Lazard (NYSE:LAZ) CEO Christopher Hogbin Sells 3,944 Shares of Stock

Lazard, Inc. (NYSE:LAZ) CEO Christopher Hogbin sold 3,944 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.37, for a total value of $155,275.28. Following the completion of the transaction, the chief executive officer directly owned 11,829 shares of the company’s stock, valued at approximately $465,707.73. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Christopher Hogbin also recently made the following trade(s):

• On Wednesday, March 18th, Christopher Hogbin sold 7,885 shares of Lazard stock. The shares were sold at an average price of $40.37, for a total value of $318,317.45.

Lazard Price Performance

Shares of LAZ opened at $39.82 on Friday. The stock has a 50 day simple moving average of $50.26 and a 200 day simple moving average of $50.89. Lazard, Inc. has a 52-week low of $31.97 and a 52-week high of $58.75. The company has a debt-to-equity ratio of 1.85, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $4.45 billion, a PE ratio of 18.27, a P/E/G ratio of 0.32 and a beta of 1.40.

Lazard (NYSE:LAZ) last announced its earnings results on Thursday, January 29th. The asset manager reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. Lazard had a net margin of 7.49% and a return on equity of 33.04%. The firm had revenue of $892.00 million for the quarter, compared to the consensus estimate of $876.32 million. During the same period last year, the company posted $0.78 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that Lazard, Inc. will post 4.24 EPS for the current fiscal year.

Lazard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, February 9th. Lazard’s payout ratio is currently 91.74%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LAZ. Morgan Stanley lowered their target price on Lazard from $61.00 to $59.00 and set an “underweight” rating for the company in a report on Tuesday, January 6th. Wall Street Zen downgraded Lazard from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. The Goldman Sachs Group cut their target price on Lazard from $53.00 to $46.00 and set a “sell” rating on the stock in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lazard in a research note on Monday, December 29th. Finally, UBS Group lowered their price objective on shares of Lazard from $59.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Lazard presently has an average rating of “Hold” and an average price target of $55.75.

Hedge Funds Weigh In On Lazard

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in Lazard during the fourth quarter worth $26,000. Sound Income Strategies LLC grew its position in shares of Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 220 shares during the period. IFP Advisors Inc increased its stake in shares of Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after purchasing an additional 224 shares during the last quarter. Quest 10 Wealth Builders Inc. acquired a new position in shares of Lazard during the 4th quarter worth about $32,000. Finally, Costello Asset Management INC bought a new stake in shares of Lazard in the 3rd quarter valued at about $37,000. 54.80% of the stock is owned by institutional investors.

About Lazard

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.